Understand the Jurisdictions Setup Requirement Before Proceed Your Register Company in Peru
One of the major hurdles experienced by any investor who is looking to set up a company overseas is being unfamiliar with the local laws, rules, regulations and compliance requirements. Especially if they have never been there before themselves.
For example, if you were to register a company in Peru, that might be difficult if you don’t know first-hand what it would be like to run and operate a business there, let alone incorporate a company. Although this scenario is easily rectified by enlisting the help of professional company registration services like 3E Accounting, it still would be good to be well-prepared in terms of knowledge when it involves how to register a company in Peru.
In general, there are three major areas which an investor should consider with seriousness before they register a company in Peru, and those areas include:
- The type of business entity
- The migratory issues involved (if you plan to relocate)
- The legal procedures which need to be followed
Your Peruvian Business Entity
The business entity options you would be presented with when you register a company in Peru include:
- Limited Liability Company (Sociedad Comercial de Responsabilidad Limitada or SRL)
- Joint Stock Company (Sociedad Anomina or SA)
- Private Closed Corporation (Sociedad Anomina Cerrada or SAC)
- Public Corporation (Sociedad Anomina Abierta)
- Branch (Sucursal)
They type of business entity you choose would depend on the needs and requirements of your business, and which entity would prove to be the most beneficial for your company in the long run.
Are You Planning to Relocate to Peru?
To register a company in Peru is one thing, to move there completely is another. Foreigners in Peru will need to obtain a business visa if they are going to be signing any contracts or documents.
If the foreign entrepreneur is living abroad but still wants to register a company in Peru, they can do so through a power of attorney which would be granted at the Peruvian Consulate or at a Notary in their country. The power of attorney would need to be registered at the Peruvian Public Register.
Then, there is also a special visa for foreigners who want to register a company in Peru and stay there too, known as the investors visa. To attain this, the paid up share capital of US$30,000 must be provided, and a business plan must be submitted before the MIGRACIONES, which is the Peruvian entity in charge of immigration and naturalization.
The Legal Formalities Which Need to Be Addressed Before You Register a Company in Peru
There a couple of legal formalities which need to be complied with before you register a company in Peru, which include:
- Acquiring the municipal authorization to register a company
- Acquiring permission to sign contracts before MIGRACIONES
- Granting the power of attorney to a trusted party who can set up your company
- Signing the by-laws prepared by a Peruvian lawyer (needs to be signed by the lawyer too)
- Opening a bank account
- Registering with the public registry
- Registering with the local tax authority
How to Register a Company in Peru
Follow these steps to begin your Peruvian company incorporation process:
- Reserve a company name
- Prepare the incorporation deed online with a Notary
- Sign the deed before a Notary and file the application online with the Public Registry of Commerce
- Obtain a Certificate of Registration
- Obtain a taxpayer identification number
- Stand the accounting and minute books
- Register the employees for Social Security
- Obtain a municipal license from the District Council.
Need more information or assistance registering a company in Peru? Get in touch with 3E Accounting’s helpful specialists, we will be happy to walk you through the process. Visit our website for more information, or contact us at 3E Accounting today.